Black Side Business Blog

Before you start a business you have to understand what it means to start a business. What it means to start a business is that you will have to really work hard, sacrifice time and put in hours to get that business to where you really want it. Do you have it in you is the first thing before first things you have to ask yourself.

Back when I used to teach much more than I do now I would ask the students in my business plan class why they were starting a business. These were the main reasons they listed:

1. To get wealthy and be able to take vacations on tropical islands (well something like that usually)2. To not have to report to a boss3. To do what I love and have it support me

All of those things can absolutely happen if you become an entrepreneur. But there is a reality that you have to face. To get to those things above, you will have to work really hard, sometimes very long hours at the start. Many full-time entrepreneurs are working 60 to 80 hours per week when they start.

Even when we talk about a side business, where you are running a business while working a full-time job, you are going to have to make a very real time commitment. If you are going to start a side business are you ready to commit to putting an additional 10 to 20 hours per week into your business while you are building it up?

One of the hardest sacrifices for me in my side business has been coaching. I love to coach and coached my sons YMCA basketball team on Saturdays. However, because I got a contract to do teaching and training, I am obligated to do that on Saturdays. Yep, no coaching.

There is a reason half of all businesses fail within the first five years of starting. There is a reason most small businesses make less than $50,000 a year, which isn't enough if that is all you are making to have those fancy vacations. It is because it is hard.

The reason I am stressing this is because I care about you and your success and what you to go into launching a business with eyes wide open. REAL business isn't an infomercial that you see on TV or a multi-level marketing sales pitch that says something like, "IF YOU JUST DO THESE THREE SIMPLE STEPS YOU WILL BE RICH". No it is a grind. It can be a wonderful, fulfilling and exciting grind, but it is a grind. You have to be ready for that. That is the first thing.